Thai PM Unveils Second Phase of Cash Handout for Elderly to Boost Economy

BANGKOK: Thai Prime Minister Paetongtarn Shinawatra launched the second phase of a cash handout program on Monday, aiming to support the elderly and stimulate the economy. The initiative will distribute 10,000 baht ($290) to over 3 million senior citizens aged 60 and above. This distribution is part of broader economic stimulus measures designed to ease financial burdens on the population.

The Prime Minister, accompanied by deputy prime ministers and cabinet members, emphasized the importance of economic stimulus programs to improve people’s living conditions. She highlighted the success of the first phase, which saw 10,000 baht given to 14.45 million people, including welfare card holders and individuals with disabilities.

The second phase, injecting 30 billion baht into the economy, is expected to help senior citizens during this financially challenging time. Deputy Prime Minister and Finance Minister Pichai Chunhavajira noted that the handout is strategically timed for the upcoming Lunar New Year period, with hopes that it will boost spending and contribute around 0.1% to the country’s GDP.

In parallel, the government introduced measures to ensure that elderly citizens could access their funds, with assistance available for those who had not linked their bank accounts to Thailand’s mobile payment platform, PromptPay. For those affected, officials promised that the funds would be available by February 28, 2025.

Looking ahead, the government plans to launch the third phase of a 10,000 baht digital wallet scheme in early 2025, targeting the working-age population with a fund allocation of 160 billion baht.